Kalyan Jewellers India Private Limited acquired an unknown majority stake in Candere from Singularity Strategic Holdings on April 26, 2017. As part of the transaction, Kalyan Jewellers will complete a phase-wise acquisition of the equity held by founder promoter of Candere, Rupesh Jain, apart from making an investment in Candere. Post acquisition, Rupesh Jain will continue to remain the Chief Executive Officer of Candere. Kalyan Jewellers India Private Limited completed the acquisition of an unknown majority stake in Candere from Singularity Strategic Holdings on April 26, 2017.